Sales rose at least 20% in every foreign region, producing double-digit earnings that compensated for a slump in sales to U.S. restaurants. The company generates about 60% of its sales outside the U.S.
Heinz intends to offer more than 400 new products within two years and increase its marketing budget by up to $100 million to support those items. Despite increases in the price of corn, wheat, dairy products and oils, consumers have not revolted against the resulting price increases in the firm's products.